Hood River Small-Cap Growth Fund
Schedule of Investments
March 31, 2026 (Unaudited)

COMMON STOCKS - 98.8%	Shares		Value
Consumer Discretionary - 8.0%
Broadline Retail - 0.8%
Ollie's Bargain Outlet Holdings, Inc. ^(a)		475,450	$	43,760,418

Diversified Consumer Services - 1.3%
Grand Canyon Education, Inc. ^(a)		172,679		29,360,610
Universal Technical Institute, Inc. ^(a)(b)		1,033,052		37,293,177
				66,653,787
Hotels, Restaurants & Leisure - 3.4%
Cava Group, Inc. ^(a)(b)		619,817		50,143,195
Genius Sports Ltd. ^(a)		3,135,884		13,891,966
Kura Sushi USA, Inc. - Class A ^(a)(b)		410,754		28,666,522
Life Time Group Holdings, Inc. ^(a)		1,726,088		46,500,811
Rush Street Interactive, Inc. ^(a)		1,605,032		34,909,446
				174,111,940
Household Durables - 0.2%
Lovesac Co. ^(a)(b)		620,308		9,161,949

Specialty Retail - 2.3%
Academy Sports & Outdoors, Inc. ^(b)		587,797		33,181,141
Camping World Holdings, Inc. - Class A		1,919,108		13,107,508
Five Below, Inc. ^(a)		143,734		32,840,344
Signet Jewelers Ltd. ^(b)		489,397		41,422,562
				120,551,555
Total Consumer Discretionary				414,239,649

Consumer Staples - 0.6%
Beverages - 0.5%
Celsius Holdings, Inc. ^(a)(b)		758,084		26,896,820

Food Products - 0.1%
Freshpet, Inc. ^(a)		32,859		1,937,367
Total Consumer Staples				28,834,187

Energy - 2.5%
Energy Equipment & Services - 0.8%
WaterBridge Infrastructure LLC - Class A		316,406		8,476,517
Xenergy Reactor Company ^(a)(c)		2,166,973		31,499,986
				39,976,503
Oil, Gas & Consumable Fuels - 1.7%
Denison Mines Corp. ^(a)(b)		16,566,804		58,480,818
Northern Oil & Gas, Inc. ^(b)		1,042,805		30,481,190
				88,962,008
Total Energy				128,938,511

Financials - 8.1%
Banks - 2.5%
Customers Bancorp, Inc. ^(a)		966,029		67,052,073
Texas Capital Bancshares, Inc. ^(a)		271,456		25,755,745
WesBanco, Inc. ^(b)		1,058,473		36,506,734
				129,314,552
Consumer Finance - 3.9%
Dave, Inc. ^(a)(b)		537,850		93,634,306
FirstCash Holdings, Inc.		588,804		110,695,152
				204,329,458
Insurance - 1.7%
HCI Group, Inc.		410,059		63,399,222
Palomar Holdings, Inc. ^(a)		223,794		26,743,383
				90,142,605
Total Financials				423,786,615

Health Care - 21.1%
Biotechnology - 12.7%
Arrowhead Pharmaceuticals, Inc. ^(a)(b)		578,500		36,271,950
Bridgebio Pharma, Inc. ^(a)(b)		684,355		50,820,202
Corvus Pharmaceuticals, Inc. ^(a)		744,094		10,886,095
Insmed, Inc. ^(a)		267,732		43,779,537
Krystal Biotech, Inc. ^(a)(b)		329,780		85,188,770
Madrigal Pharmaceuticals, Inc. ^(a)		134,720		70,521,878
Mirum Pharmaceuticals, Inc. ^(a)(b)		149,307		13,792,981
Neurocrine Biosciences, Inc. ^(a)		173,881		22,907,083
Nuvalent, Inc. - Class A ^(a)(b)		255,949		26,221,975
Praxis Precision Medicines, Inc. ^(a)(b)		187,831		60,517,270
Protagonist Therapeutics, Inc. ^(a)		445,248		46,929,139
PTC Therapeutics, Inc. ^(a)		889,381		60,593,528
Rhythm Pharmaceuticals, Inc. ^(a)		129,034		11,222,087
Scholar Rock Holding Corp. ^(a)(b)		1,069,421		52,572,736
Soleno Therapeutics, Inc. ^(a)		331,392		11,095,004
Syndax Pharmaceuticals, Inc. ^(a)		1,211,108		28,291,483
TG Therapeutics, Inc. ^(a)		933,712		31,017,913
				662,629,631
Health Care Equipment & Supplies - 3.0%
Alphatec Holdings, Inc. ^(a)		1,506,549		16,391,253
AtriCure, Inc. ^(a)		1,637,849		46,727,832
Enovis Corp. ^(a)(b)		931,521		21,192,103
LivaNova PLC ^(a)		351,912		22,367,527
MiniMed Group, Inc. ^(a)(b)		793,709		11,842,138
TransMedics Group, Inc. ^(a)(b)		365,464		36,330,776
				154,851,629
Health Care Providers & Services - 4.4%
Alignment Healthcare, Inc. ^(a)		3,924,617		69,151,752
Ensign Group, Inc. ^(b)		285,797		57,588,095
Guardant Health, Inc. ^(a)		667,252		61,634,067
RadNet, Inc. ^(a)		738,220		41,259,116
				229,633,030
Pharmaceuticals - 1.0%
Axsome Therapeutics, Inc. ^(a)(b)		189,665		32,057,178
Crinetics Pharmaceuticals, Inc. ^(a)(b)		471,731		17,133,270
				49,190,448
Total Health Care				1,096,304,738

Industrials - 30.1% ^(d)
Aerospace & Defense - 4.7%
Axon Enterprise, Inc. ^(a)		52,299		22,210,862
Karman Holdings, Inc. ^(a)(b)		742,858		59,465,783
Kratos Defense & Security Solutions, Inc. ^(a)(b)		1,467,553		103,477,162
PDW Holdings Inc. ^(a)(c)		3,335,186		14,999,999
VSE Corp. ^(b)		159,252		29,366,069
York Space Systems, Inc. ^(a)(b)		516,521		11,451,271
				240,971,146
Building Products - 0.5%
Modine Manufacturing Co. ^(a)		121,252		26,276,521

Commercial Services & Supplies - 0.9%
Clean Harbors, Inc. ^(a)		79,604		22,824,855
Interface, Inc.		1,046,515		26,079,154
				48,904,009
Construction & Engineering - 10.1%
API Group Corp. ^(a)		1,217,003		49,312,962
Comfort Systems USA, Inc.		128,037		176,561,743
Granite Construction, Inc. ^(b)		583,222		69,916,653
MasTec, Inc. ^(a)		721,111		232,010,253
				527,801,611
Electrical Equipment - 3.8%
Babcock & Wilcox Enterprises, Inc. ^(a)		6,033,924		88,638,343
Bloom Energy Corp. - Class A ^(a)		814,204		110,316,500
				198,954,843
Ground Transportation - 5.2%
Knight-Swift Transportation Holdings, Inc.		1,405,107		80,906,061
RXO, Inc. ^(a)(b)		2,928,155		42,809,626
Schneider National, Inc. - Class B ^(b)		1,132,672		29,857,234
XPO, Inc. ^(a)(b)		609,364		118,551,766
				272,124,687
Machinery - 1.6%
ESCO Technologies, Inc.		156,851		44,133,166
Flowserve Corp.		529,542		38,926,632
				83,059,798
Marine Transportation - 0.6%
Kirby Corp. ^(a)		243,466		32,351,762

Trading Companies & Distributors - 2.7%
QXO, Inc. ^(a)(b)		4,372,357		84,911,173
Transcat, Inc. ^(a)		402,674		29,576,405
Xometry, Inc. - Class A ^(a)(b)		573,822		23,434,891
				137,922,469
Total Industrials				1,568,366,846

Information Technology - 25.0% ^(d)
Aerospace & Defense - 0.4%
Red Cat Holdings, Inc. ^(a)(b)		1,587,479		20,780,100

Communications Equipment - 4.1%
Applied Optoelectronics, Inc. ^(a)(b)		838,236		70,906,383
Lumentum Holdings, Inc. ^(a)(b)		149,207		104,856,711
Ondas Holdings, Inc. ^(a)(b)		4,094,418		37,013,539
				212,776,633
Electronic Equipment, Instruments & Components - 3.3%
Fabrinet ^(a)		59,259		30,904,754
LightPath Technologies, Inc. - Class A ^(a)		984,371		9,873,241
nLight, Inc. ^(a)		604,818		34,486,722
OSI Systems, Inc. ^(a)(b)		241,803		64,201,115
TTM Technologies, Inc. ^(a)		339,488		33,072,921
				172,538,753
IT Services - 8.6%
Applied Digital Corp. ^(a)(b)		12,259,088		291,030,749
DigitalOcean Holdings, Inc. ^(a)(b)		1,835,457		157,445,502
				448,476,251
Semiconductors & Semiconductor Equipment - 4.9%
AXT, Inc. ^(a)(b)		346,324		19,733,542
Lattice Semiconductor Corp. ^(a)		679,023		62,986,173
Rambus, Inc. ^(a)(b)		362,445		31,181,143
Semtech Corp. ^(a)		1,196,933		92,032,178
Sequans Communications SA - ADR ^(a)		615,790		1,557,949
SiTime Corp. ^(a)		133,210		46,004,074
				253,495,059
Software - 3.7%
ACI Worldwide, Inc. ^(a)		1,309,816		53,715,554
BlackBerry Ltd. ^(a)(b)		7,693,303		24,926,301
Hut 8 Corp. ^(a)		916,423		42,989,403
Pegasystems, Inc.		512,773		21,823,619
Unity Software, Inc. ^(a)		2,373,154		52,066,999
				195,521,876
Total Information Technology				1,303,588,672

Materials - 2.3%
Construction Materials - 0.9%
Eagle Materials, Inc. ^(b)		90,643		17,172,317
Knife River Corp. ^(a)(b)		335,665		27,407,047
				44,579,364
Metals & Mining - 1.4%
Almonty Industries, Inc. ^(a)		1,845,939		26,729,197
United States Antimony Corp. ^(a)(b)		1,798,554		15,701,376
USA Rare Earth, Inc. ^(a)(b)		2,110,146		31,937,060
				74,367,633
Total Materials				118,946,997

Real Estate - 0.8%
Real Estate Management & Development - 0.8%
Landbridge Co. LLC - Class A ^(b)		593,216		40,961,565

Utilities - 0.3%
Electric Utilities - 0.3%
Oklo, Inc. ^(a)(b)		307,978		15,272,629
TOTAL COMMON STOCKS (Cost $3,383,748,273)				5,139,240,409

REAL ESTATE INVESTMENT TRUSTS - 0.6%	Shares		Value
Financials - 0.6%
Financial Services - 0.6%
Hannon Armstrong Sustainable Infrastructure Capital, Inc. ^(b)		864,096		31,755,528
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $23,489,456)				31,755,528

PRIVATE NOTES - 0.1%	Par		Value
Consumer Discretionary - 0.1%
Cariloha 15.00%, 12/31/2026 ^(c)(h)		6,500,000		6,500,000
TOTAL PRIVATE NOTES (Cost $6,500,000)				6,500,000

RIGHTS - 0.0% ^(e)	Contracts		Value
Health Care - 0.0% ^(e)
Pharmaceuticals — 0.0% ^(e)
Novo Nordisk AS, Exercise Price $0.00 ^(a)(c)		350,637		-
TOTAL RIGHTS (Cost $-)				-

WARRANTS - 0.0% ^(e)	Contracts		Value
Ondas Holdings,, Inc., Expires 10/06/2032, Exercise Price $20.00 ^(a)(c)(f)(g)		4,320,000		-
TOTAL WARRANTS (Cost $-)				-

SHORT-TERM INVESTMENTS
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 18.1%	Units		Value
Mount Vernon Liquid Assets Portfolio, LLC, 3.78% ⁽ⁱ⁾		945,038,776		945,038,776
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $945,038,776)				945,038,776

MONEY MARKET FUNDS - 0.6%	Shares		Value
First American Treasury Obligations Fund - Class X, 3.59% ⁽ⁱ⁾		29,071,086		29,071,086
TOTAL MONEY MARKET FUNDS (Cost $29,071,086)				29,071,086

TOTAL INVESTMENTS - 118.2% (Cost $4,387,847,591)				6,151,605,799
Liabilities in Excess of Other Assets - (18.2)%				(945,851,978	)
TOTAL NET ASSETS - 100.0%			$	5,205,753,821

Par amount is in USD unless otherwise indicated.
Percentages are stated as a percent of net assets.
The Global Industry Classification Standard (“GICS^®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS^® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

ADR - American Depositary Receipt

LLC - Limited Liability Company

PLC - Public Limited Company

(a)	Non-income producing security.
(b)	All or a portion of this security is on loan as of March 31, 2026. The fair value of these securities was $986,188,312.
(c)	Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $52,999,985 or 1.0% of net assets as of March 31, 2026.
(d)	To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(e)	Represents less than 0.05% of net assets.
(f)	All or some of the shares of the security were acquired through a private investment in public equity (PIPE) transaction. Security may be subject to legal restrictions on sales and was illiquid as of March 31, 2026.
(g)	Security received at no cost in connection with Ondas Holdings 2025 PIPE transaction. The security had no market value as of March 31, 2026.
(h)	Private investment.
(i)	The rate shown represents the 7-day annualized yield as of March 31, 2026.

Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)

Hood River Small-Cap Growth Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of March 31, 2026:

	Level 1		Level 2		Level 3		Total
Investments:
Common Stocks	$	5,092,740,424	$	–	$	46,499,985	$	5,139,240,409
Real Estate Investment Trusts		31,755,528		–		–		31,755,528
Private Notes		–		–		6,500,000		6,500,000
Rights		–		–		-		-
Warrants		–		–		-		-
Investments Purchased with Proceeds from Securities Lending^(a)		–		–		–		945,038,776
Money Market Funds		29,071,086		–		–		29,071,086
Total Investments	$	5,153,567,038	$	–	$	52,999,985	$	6,151,605,799

Refer to the Schedule of Investments for further disaggregation of investment categories.

(a)

Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $945,038,776 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.